The Treasury Department of the United States placed sanctions on Venezuela’s state-owned oil company Petroleos de Venezuela, S.A (PDVSA) on January 28 in an effort to stabilize democratic order to the region and combat corruption in Venezuela.
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On December 26th NYMEX low traded at $1.6205 per gallon. Since then, the price has moved higher to $0.27 per gallon moving ever closer to the $2.00 mark.
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Brent crude Oil prices hit a two-month high near $64 a barrel as OPEC led supply cuts and U.S. sanctions against Venezuela’s oil exports brightened the supply outlook, but prices fell back on uncertainty about prospects for the global economy.
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The United States sanctions against Iran’s oil exports entered into full force last week as the United States attempts to cripple Iran’s oil-dependent economy and suppress their nuclear desires. Although Washington has vowed to halt all purchases of crude from Iran, it recently supplied eight countries with waivers to continue imports without penalty for the […]
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As we head towards Iran oil sanctions and mid-term elections next week, we are focused on the following 4 topics
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